The Oslo Stock Exchange is rising as investors wait for the final interest rate meetings of the year – archyde

The main index on the Oslo Stock Exchange rose 0.7 percent on Monday morning. The vast majority of the heavyweights on the Oslo Stock Exchange rise from the start.

Aker Solutions is up over four percent and is one of the most traded stocks today. Norsk Hydro, which announced on Monday morning that the company plans to publicly list renewable company Hydro Rein in 2022, will rise by more than three percent.

Seadrill has secured a contract with the Brazilian oil company Petroleo worth around 2.4 billion NOK, the drilling company announced on Monday morning. The company will rise by over 20 percent when the stock market opens.

The main index of the Oslo Stock Exchange ended a solid trading week with a cautious decline last week. That was a 1.3 percent gain for the week. Wall Street ended Friday night with a sharp rise in all leading indices.

“Investors in the US equity market on Friday doubted that CPI growth in line with expectations, despite the increased levels for the Fed this week, would be enough to maintain the original plan,” wrote DNB Markets in its morning report on Monday.

This week the US Federal Reserve has its last interest rate meeting of the year. The central bank governor Jerome Powell previously signaled that they plan to begin phasing out support buying in connection with the pandemic.

“Combined with the positive corporate news from the tech sector, unchanged pandemic concerns and higher oil prices, the reduced fear of even faster inflation-reducing measures from the central bank meant the Dow, S & P500 and Nasdaq could end the week,” writes DNB Markets.

Asian equity markets rise

Monday morning continued positively on the Asian stock markets. The Hang Seng index in Hong Kong rose by over one percent, while the Nikkei index in Japan followed suit.

The surge is supported by expectations that the Chinese authorities will continue their stimulus policies to maintain growth through 2022. This means the prospect of further measures in the form of increased investment programs, low interest rates and good access to credit, writes DNB Markets in the morning report.

– This week’s focus seems to be primarily on the interest rate session. The US Federal Reserve will present its conclusions on interest rates on Wednesday evening, while Norges Bank, BOE (Bank of England journ.anm.) And ECB (The European Central Bank journ.anm.) Will present their respective conclusions on Thursday.

More company news

After the Oslo Stock Exchange closed on Friday and before the stock exchange opened on Monday, several companies released news. This is how companies’ share prices react:

  • Atlantic Sapphire has received notification of financial reporting for a credit facility from Finanstilsynet, the company said late Friday evening. According to the report, the audit has shown that the fish farm has to submit a new version of the financial statements for the first half of the year.
  • The seismic company Seabird Exploration has terminated the contract for the order of the ship Fulmar Explorer, the company announced on Friday night. The company collapses by over four percent on Monday morning.
  • Aqua Bio Technology brings in NOK 12.9 million in a private placement, the company reported on Monday morning. The company collapses by a little more than one percent.
  • Hydro is aiming for a listing of the renewable company Hydro Rein in 2022, the company announced on Monday morning. The updated investment target for the next year is NOK 11 billion. Hydro rises over three percent.
  • On Monday morning Aker BP announced that it will be awarding NOK 440 million contracts in the Valhall and King Lear oil fields to develop a new platform to connect the two fields. The company is growing by the next two percent.

With an increase of over three percent, the oil price rose sharply on Monday morning to over $ 76 per barrel. At eight o’clock, almost one percent fell back.

Today’s levels are a solid comeback after falling below $ 70 a barrel in early December.

– Reduced concerns about further negative demand effects of new virus variants along with the signals of support for a continued Chinese growth rate in the future mean that Brent price rose in the morning hours today, writes DNB Markets. (Conditions)Copyright Dagens Næringsliv AS and / or our suppliers. We would like you to share our cases via a link that leads directly to our pages. Copying or other use of all or part of the content may only be carried out with written permission or within the legally permissible framework. For additional conditions look here.

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